Is the Cincinnati real estate market hot or not?

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The average sales price for single family homes continues to outpace the same time frame when comparing the fist 4 months of 2015 to 2016.  According to the Multiple Listing Service of Greater Cincinnati the average sale price for a single family home January-April of 2015 was $172,065 while the year the price jumped nearly +6% to $182,637.

The total number of single family home listings continues to decline- down -24% compared to April 2015 and down -30% from 2014.  The lack of homes for sale is hurting both buyers and sellers- higher prices for buyers and sellers who are afraid to sell without finding a place to move before signing a contract.

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Single family home sales volume for the 4 counties. Data pulled from the CincyMLS.

All 4 counties sales volume and average sale price is higher than last year.  Hopefully the lack of inventory doesn’t slow down sales during the summer months.

Lots of real estate needs- buyers looking to buy, potential sellers trying to determine next move and waiting until they secure housing – before they decide to list.  Also for flexible landlords- lots of people looking for short term housing options as they shuffle through the sale or building process.

Do you have questions about sale prices in your neighborhood-send a request for a full market evaluation.  Anything else – Call/Txt